FICO Scores, Credit Repair and Home Loans - The Real Truth
By Keith Gill

There are three types of FICO scores that are generally computed using the data given by three bureaus. They are Experian, Trans Union, and Equifax. Lenders can use any one of the three scores but many lenders use the middle score.

Though some people berate the FICO scores, the fact is that these scores are quick and very fair. FICO scores and credit reports play a very important role in securing you a home loan. As a result, the FICO scores have gained tremendous importance as far as loans is concerned. It is important to have a high FICO score.

Therefore it is of high importance for people to repair their credit. They can do this by keeping all revolving debts below 50% of the permissible limit. If your accounts are paid off, do not close them but rather just stop using them. The one way you can do that is by paying your bills on time. Another thing is that you must not apply for credit on a regular basis. One of the primary points to consider is that a limited credit can adversely affect your score. So try getting additional credit.

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